The major factors fueling the market growth include the increasing enterprise workloads on the cloud and rapid growth in the number of intelligent applications. The increasing adoption of edge AI software in autonomous vehicles” applications could provide growth opportunities for the edge AI software vendors in the market.

The software tools segment is estimated to hold a larger market size during the forecast period

The vendors offer edge AI solutions as software tools and platforms. The edge AI software tools are a combination of Machine Learning (ML) and edge computing technology, and automatically turns raw data into events, insights, and predictions, without big data and costly analysis. The software tools that are being offered in the Edge AI Software Market are in the form of Software Development Kits (SDKs) and frameworks, which allow users to integrate AI capabilities in the application software.

Energy and utilities vertical is estimated to hold the largest market size during the forecast period

The energy and utilities vertical includes high-stake, technology-driven operations, which depend on real-time insights to provide proactive monitoring and protection against machinery and equipment failure. Most of the operations happen at a remote area and lack reliable network infrastructure; edge AI software provides data analytics on edge devices to enable real-time response, which is required for maximum production and safety.

North America is estimated to hold the largest market size during the forecast period

North America is the major revenue-generating region in the global Edge AI Software Market. The region is witnessing major developments in the edge AI software space. Many AI solution providers in North America are experimenting in the Edge AI Software Market by integrating AI and ML functionalities with their existing edge AI solutions. They are also adopting various growth strategies to strengthen their position in the Edge AI Software Market.

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies” revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the ‘Growth Engagement Model – GEM’. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write ‘Attack, avoid and defend’ strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets”s flagship competitive intelligence and market research platform, ‘Knowledge Store’ connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.